Mumsnet Talk

Going to keep this short otherwise I'll be here all day rambling..
Basically, I have been accepted to study the 5 year Medicine course, yes I am totally over the moon!! I am very happy & proud that its been worth all the hard work, however, there is one major problem - it is my second degree & the fees are £9000 a year. I am not eligible for funding as LEA funded my previous degree, so I have to cough up, big time.

We have worked out that with our savings I can afford the first two years, plus the final year is paid by NHS anyway, so that leaves two years - £18000, that I somehow need to magically find!!

I'm starting to think my only hope would be private loans, yes the APR would be extortionate, but surely worth it since I would be going into a secure profession that would allow me to pay it off?

Any ideas would be great.

I agree that it would be worth it, if a loan is your only option.

Congratulations on getting accepted!

Ouch.

Have you researched any grants/bursaries you may be eligible for?

Not all those graduating with a medical degree get a job at the end, check the stats. It can be difficult to get jobs, with huge debts that could be a worry.

Student loan?

I already had a student loan with my first degree, so not an option I'm afraid.

Going to the library this afternoon to look through the grant directory, fingers crossed. I wonder if its possible to be sponsored by a charity or private company, as long as I agree to work for them after graduation?

Why don't you contact your department secretary and ask for advice. They should have a list of potential funding bodies.

Is it possible to get a career-development type loan from your bank? The rates are usually pretty good on those. Or even a student deal?

It's definitely worth taking a risk, though, and I'm pretty certain you won't regret it. I went back to university aged 37 to study medicine (currently in my 3rd year) and I've woken up every single morning since then saying "what a great decision I made"

Are you sure you can't get student loan? Did you get a tuition fee loan last time? I thought it was only if you got a tuition fee loan that you couldn't get it again. Plus some courses don't count anyway. Eg I am about to start midwifery and even though I already have a degree at the same level and had a loan (but not tuition fee loan) I can still get student loan because midwifery is an allowed second degree. Plus there is the NHS bursary which isn't huge but every little helps!

if you would consider the forces they may offer a bursary - see e.g www.army.mod.uk/join/20141.aspx

those "unemployed" after a medical degree may well be working abroad. I wouldn't worry about getting a job at the end, although your choice of specialty might not be available.

Congratulations! What a massive achievement. Wishing you all the luck in the world.

Some banks have loans for subjects like medicine so you could look there. But go onto the student room website and you will find your question has been asked and there are some good answers. Just out of interest, how hard was it getting on the course? Did you have to redo a levels?

Could you remortgage?

You will be able to have a part time job while you study and for the first two summer breaks of 3 months each. A lot of medical students work either in hospital care banks or as private tutors, both of which pay quite well for a part time student job.

Don't worry too much, once you are in there will be help from banks and the university. Everyone is having to cough up now and hardly any of the graduates from other disciplines will be as employable and so well paid as you will be when you finish.

I presume you have included living costs in your budgeting? And travelling etc?

I already work as a tutor so will carry this on while at uni, also my DH is on a good salary so living expenses will be covered.

Bakingnovice I had to redo my Chemistry A level, plus take the UKCAT, which I had to take twice - first time I scored 580, then on my second attempt I managed 720! Redoing Chemistry was a nightmare, but well worth the effort :-)